Iran has effectively turned the Strait of Hormuz — a critical global energy chokepoint — into a tollbooth, requiring some commercial vessels to pay for safe passage amid ongoing conflict.
According to Bloomberg, ships seeking to transit the strait may be charged fees in Chinese yuan or cryptocurrency (including stablecoins) and must be vetted by Iranian authorities before being escorted through the waterway.
Payments reportedly start at about $1 per barrel of oil cargo, which can total millions for large tankers, and are part of Iran’s effort to manage maritime traffic and leverage control of the strategic route during the crisis.
